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On January 17, local time on January 16, Boeing resumed testing of the long-delayed 777X wide-body jet for the first time since it was grounded in August last year. Five weeks before the grounding, Boeing conducted a certification flight test of the 777-9 model, when officials from the Federal Aviation Administration were also on board. Boeing said that officials from the Federal Aviation Administration did not board the 777X flight. The 777X is the successor to the Boeing 777, which is one of the most commercially successful long-haul passenger aircraft. Boeing originally planned to deliver the first 777X to its first customer, Qatar Airways, in 2020, but the delivery time was subsequently postponed to 2026. Boeings 777X airline customers include Emirates, Lufthansa, Singapore Airlines, etc.Norwegian Maritime Administration: Natural gas has been discovered in the Barents Sea, but initial estimates indicate that the discovery is not profitable under current conditions.Ukrainian Air Force: Shot down 33 Russian drones at night.According to TASS: Iranian President Pezhichyan arrived in Moscow for talks with Russian President Vladimir Putin.January 17, gold prices hovered near a five-week high on Friday and are expected to rise for the third consecutive week as U.S. inflation data released earlier this week once again raised expectations that the Federal Reserve may cut interest rates more than once this year. Ajay Kedia, director of Kedia Commodities, said that the support level is expected to be $2,694, and if it breaks through $2,720, the price of gold will advance to $2,770. ANZ analysts said that gold will play its risk diversification appeal amid macroeconomic and geopolitical uncertainty. Golds sensitivity to its traditional drivers (interest rates and the U.S. dollar) will continue to fluctuate in 2025. Michael Langford, chief investment officer of Scorpion Minerals, said that the increased uncertainty brought about by the new U.S. administration and its possible actions is affecting gold as a tool for trading short-term fluctuations.

European Open: Commodity currencies track futures markets lower

Skylar Shaw

Apr 08, 2022 11:37

The ASX 200 index in Australia is presently trading at 7,444.70, down -45.4 points (-0.61%).


The Nikkei 225 index in Japan has dropped -448.64 points (1.64%) and now trades at 26,901.66.


The Hang Seng index in Hong Kong has dropped -289.22 points (1.31%) and is now trading at 21,791.30.


China's A50 Index is presently trading at 13,868.31, down -99.87 points (-0.71%).

The United Kingdom and Europe:


The FTSE 100 futures in the United Kingdom are now down -4 points (-0.05 percent), with the cash market expected to open at 7,583.70.


Futures on the Euro STOXX 50 are now down -6 points (-0.16%), with the cash market expected to open at 3,818.69.


The DAX futures in Germany are now down -37 points (-0.26%), with the cash market expected to open at 14,114.69.


For the second day, Asian markets were pulled down by the FOMC-induced selloff on Wall Street, with the Nikkei leading the way down and plummeting to a near 3-week low. All of the key Asian benchmarks we follow were in the red, and futures suggest another dismal start.


Market Internals (FTSE)


Our research did not fare well in yesterday's price movement. All of Tuesday's gains were reversed as prices pulled back to (and fell under) the 7575 support level. Nonetheless, it maintained above Tuesday's low and recouped around two-thirds of the day's losses, forming a hammer candle at the closing. A break of the low confirms the formation as a 1-bar bearish reversal (hanging man), whilst a break of the high confirms the formation as a bullish hammer.


  • Futures in the United States: The DJI futures are now down -148 points (-0.43 percent )

  • Futures on the S&P 500 are now down -53.5 points (-0.37 percent )

  • Futures for the Nasdaq 100 are now down -18.25 points (-0.41 percent )

  • 4249.45 on the FTSE 350 index (-0.34 percent ) 6th of April, 2022

  • 265 (75.50 percent) stocks rose, while 81 (23.08 percent) fell.


Eight stocks sank to new 52-week lows, while 22 advanced to new highs.


Over the last 200 days, 34.47 percent of equities have closed above their 200-day average.


A total of 56.98 percent of stocks finished higher than their 50-day average.


7.69% of stocks ended higher than their 20-day average.


Premier Foods PLC (PFD.L) outperformed by 5.96 percent, Syncona Ltd (SYNCS.L) by 5.64 percent, and Indivior PLC by 4.02 percent (INDV.L)


Capricorn Energy PLC is a -8.57 percent underperformer (CNE.L)


Aston Martin -7.54 percent 888 Holdings PLC (AML.L) -7.51 percent Lagonda Global Holdings PLC (AML.L) -7.51 percent (888.L)


The Fed's weight continues to bear down on commodity currencies.


At the moment, we appear to be witnessing a lot of countertrend movements in the currency markets. Commodity FX has continued to retreat from highs as it becomes clear that the RBA and RBNZ are following the Fed's hawkish path, with the AUD and NZD among the weakest majors today.


AUD/USD has reversed all of this week's gains and is on the verge of forming a bearish pinbar at present levels. The week's high failed to break through the upper Keltner channel, and a quick look at lower timeframe momentum implies the week might be closed at present levels. But it doesn't rule out the possibility of a rally ahead of a lower-level breach.

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